Israel s wealthiest are moving out of the city
From beach homes near Nahariya, to country estates in farming villages and homes in pastoral Ein Kerem, Covid-19 has pushed up demand for Israeli houses. Leaving the city for a house, as a second home, not the main residence, was something that very much developed over many years and was slowing down, because it involves a lot, such as maintenance and employing workers, says real estate agent Noam Dzialdow of the Neot Shiran agency for luxury homes. People would say why do I need this headache? Coronavirus reshuffled the deck within a month. People began buying even when movement was restricted.
Unprecedented boom in luxury housing market
As foreign residents seek an Israeli address, and Israelis snap up country homes, Globes looks at the biggest deals.
Israel s real estate market continues to flourish despite the Covid-19 crisis, including the high-end luxury market. The Israel Tax Authority site shows that there have been many real estate deals over the past year for NIS 30 million and more, mainly apartments purchased by Jews living abroad.
Real estate agent Oren Katz, who together with his partner Reli Zeidner have been high-end Israeli property agents for more than 20 years, said, Many Jews living in London, Paris and the US, with an Israeli address or passport, and unable to enter Israel, were sorry that they had not bought a home and are now coming off the fence, after understanding that little Israel is the promised land. This is the factor causing major interest from them and my estimate is that when the skies reopen, there will be a new wave of demand here.